Chubu Electric Power Co.,Inc. | Notice Regarding Revised Forecasts of Earnings and Dividend - Press Releases(2018)
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Press Release 2018

Notice Regarding Revised Forecasts of Earnings and Dividend

March 27, 2018

Chubu Electric Power Co.,Inc.

To reflect latest performance trends, Chubu Electric Power has as follows revised its dividend forecast for the fiscal year ending March 2018 and its full-year forecasted earnings of the fiscal year ending March 2018, previously announced on January 31, 2018.

1 Revision of earnings forecast

Revision of full-year forecasted values for consolidated results of the fiscal year ending March 2018 (April 1, 2017 to March 31, 2018)

Item

Sales
(Million JPY)

Operating income
(Million JPY)

Ordinary income
(Million JPY)

Net income to which parent company
shareholders are entitled
(Million JPY)

Net income per share
(JPY)

Previously announced forecast
(A)

2,780,000

120,000

110,000

75,000

99.08

Revised forecast
(B)

2,800,000

135,000

125,000

70,000

92.47

Increased/decreased amount
(B-A)

20,000

15,000

15,000

-5,000

Does not apply

Rate of increase/decrease
(%)

0.7

12.5

13.6

-6.7

Does not apply

(Reference) Results of previous term
(Fiscal year ending March 2017)

2,603,537

136,443

121,483

114,665

151.43


Revision of full-year forecasted values for non-consolidated results of the fiscal year ending March 2018 (April 1, 2017 to March 31, 2018)

Item

Sales
(Million JPY)

Operating income
(Million JPY)

Ordinary income
(Million JPY)

Net income
(Million JPY)

Net income per share
(JPY)

Previously announced forecast
(A)

2,530,000

100,000

80,000

55,000

72.65

Revised forecast
(B)

2,550,000

115,000

95,000

50,000

66.04

Increased/decreased amount
(B-A)

20,000

15,000

15,000

-5,000

Does not apply

Rate of increase/decrease
(%)

0.8

15.0

18.8

-9.1

Does not apply

(Reference) Results of previous term
(Fiscal year ending March 2017)

2,389,719

117,245

99,122

72,014

95.09


Reason for revision

As indicated above, we revised the full-year earnings forecast for the fiscal year ending March 2018. This was to reflect how temperatures during the winter pushed up electricity sales, how a stronger yen narrowed down accrued losses incurred by the fuel cost adjustment system, and how extraordinary losses are expected to be registered from thermal power station-related impairment losses.

[Main factors for earnings forecast (Full-year)]

Item

Revised forecast

Previously announced forecast

Electricity sales
(hundred million kWh)

approx. 1,213

approx. 1,203

Crude oil CIF price
($/b)

approx. 57

approx. 57

Exchange rate (Interbank)
(JPY/$)

approx. 111

approx. 112

2 Revision of dividend forecast

Dividend forecast for the fiscal year ending March 2018

Item

Annual dividend End of second quarter
(JPY)

Annual dividend End of quarter
(JPY)  

Annual dividend Total
(JPY)

Previous forecast
(Announced on January 31, 2018)

Does not apply

15

30

Revised forecast

Does not apply

20

35

Dividend for current term

15

Does not apply

Does not apply

Dividend for previous term
(Fiscal year ending March 2017)

15

15

30

Reason for revision

Chubu Electric Power's basic stance on shareholder return is to maintain stable dividends by taking account of financial conditions and other factors while continuously investing in building and operating equipment essential for a safe and stable supply of electricity.

As indicated above, we revised the dividend forecast for the fiscal year ending March 2018 considering our improved revenue and expenditure resulting from progress in continuous management streamlining efforts, as well as mid- to long-term financial conditions and business environments.

(Note) The earnings forecast above is premised both on information available as of this document's release date and assumptions as of the same date about uncertain factors that affect future earnings. The actual earnings might differ from those forecasted due to various future factors.